AES (NYSE:AES) Issues FY24 Earnings Guidance

AES (NYSE:AES) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.87-$1.97 for the period, compared to the consensus EPS estimate of $1.92. AES also updated its FY 2024 guidance to 1.870-1.970 EPS.

AES Stock Performance

AES traded down $1.59 on Friday, reaching $14.71. 30,895,243 shares of the stock were exchanged, compared to its average volume of 8,441,197. The company’s 50-day moving average price is $17.85 and its 200 day moving average price is $18.29. AES has a fifty-two week low of $14.68 and a fifty-two week high of $22.21. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The firm has a market capitalization of $10.46 billion, a PE ratio of 10.22 and a beta of 1.10.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. AES had a return on equity of 28.95% and a net margin of 8.34%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, sell-side analysts forecast that AES will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.1725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.69%. AES’s dividend payout ratio (DPR) is presently 47.92%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Barclays upped their price target on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.57.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.